Hamilton Reserve Bank and authID.ai announce deployment of
World Bank Brings High-Level Identity Assurance to New Digital Banking Services with Temenos Infinity Banking Platform; fights identity fraud and eliminates the need for passwords
Denver, CO and Jessups Estate, Nevis, St. Kitts and Nevis, October 26, 2021 (GLOBE NEWSWIRE) – authID.ai, [Nasdaq: AUID] (formerly Ipsidy), a leading provider of secure, mobile and biometric authentication, today announced that Hamilton Reserve Bank (HRB), a fully regulated global bank with offices around the world (SWIFT: NIBTKNNE), has deployed authID.ai’s easy-to-integrate Identity as a Service (IDaaS) platform. HRB has deployed Verified ™, authID.ai’s cloud-based multi-factor biometric authentication product that offers the ease of a ‘selfie’ to confirm identity, eliminating the use of passwords to Vulnerable Single Use and Knowledge-Based Issues to Secure Transactions and Account Recovery.
Hamilton Reserve Bank serves a large and rapidly expanding global customer base, supports customer operations in more than 150 countries, offering deposits to customers in 10 different currencies. As HRB launches new digital banking services with the Temenos Infinity banking platform, authID.ai, a provider of Temenos Marketplace, provides high levels of identity assurance to HRB and its expanding international customer base. AuthID.ai’s biometric identity products help HRB reduce operating costs associated with supporting password resets, mitigate security risks associated with stolen passwords, phishing, and account hacks, and ultimately, to deliver seamless customer experiences that fully meet international standards for HRB’s insistence on best practices in AML / KYC / CFT Compliance.
“Hamilton Reserve Bank’s new digital banking platform fulfills our mission of onboarding one million new customers over the next 12 months, and authID has helped us comply with rigorous regulatory programs through a Automated integration product that provides accurate, secure document identity verification and facial biometric matching of the customer, ”said Prabhakar Kaza, CEO of Hamilton Reserve Bank. “Providing our valued customers with a seamless authentication experience was critical to our growth. AuthID.ai’s device authentication has helped us eliminate passwords, and its cloud-based biometric authentication secures outgoing SWIFT threads and beneficiary changes. We look forward to expanding our collaboration with authID and Temenos to support our rapid global expansion into new markets. “
In addition to deploying Verified, Proof ™ by authID.ai provides automated identity verification during digital onboarding of HRB’s global customer base, including rapid capture and authentication of mobile identity documents, confirmation of liveliness and facial biometric matching of a selfie with the identification photo. To provide a more secure and transparent connection experience, AuthentifID ™ Offers password-less FIDO2 login and strong customer authentication with cryptographic security and compliance with PSD2 requirements, a critical need for international banks.
“It all starts with a trusted identity,” said Tom Thimot, CEO of authID.ai. “Our identity platform offers innovative, flexible, fast and easy to integrate solutions. authID.ai is committed to helping banks around the world reduce the risk of identity fraud, eliminate the cost and hassle of passwords, and ultimately deliver seamless authentication experiences. to their customers.
“We are delighted to see authID.ai, a Temenos Marketplace provider, launch its integrated identity services with Temenos Infinity at Hamilton Reserve Bank,” said Martin Bailey, director of innovation and ecosystems, Temenos. “We are carefully reviewing and organizing a community of top-notch fintech solutions that complement Temenos software to create the Temenos MarketPlace. AuthID.ai’s innovative biometric solutions will enable Hamilton Reserve Bank not only to fight identity fraud, but also to simplify and streamline the customer journey with Temenos Infinity.
authID.ai (Nasdaq: AUID), formerly Ipsidy, provides biometric, mobile and secure identity verification software products through an easy-to-integrate Identity-as-a-Service (IDaaS) platform. The authID.ai self-service biometric suite proof of identity and authentication The solutions easily eliminate all usernames and passwords through a consent-based facial matching system. Powered by the most sophisticated biometric and artificial intelligence technologies, authID ultimately aims to restore security and trust between businesses and their customers by helping to protect sensitive personal data. For more information, visit www.authid.ai
About the Hamilton Reserve Bank
Hamilton Reserve Bank (HRB) (www.hrbank.com), the “Customer First Global Bank”, is a leading fully regulated banking institution with representative offices around the world. HRB is the world’s largest bank headquartered in St. Kitts and Nevis, a thriving British Commonwealth nation and the birthplace of the founding father of the United States, Alexander Hamilton. Led by the founding president of HRB, the Rt. Hon. Sir Tony Baldry and a global team of seasoned executives, HRB has a deep British heritage serving a growing global private banking and corporate banking clientele across multiple lines of business: banking, asset management , new business registration and capital markets. The bank’s asset management ETF business is offered through an independently managed affiliate listed on the New York Stock Exchange (NYSE ticker: VSL). The independently managed asset management business of the Bank is a registered investment adviser regulated by the United States Securities and Exchange Commission (SEC), duly authorized to manage clients’ investment portfolios. The new business start-up subsidiary of Bank AAA Global Incorporation & Trust Ltd (www.trustaaa.com) is a world-leading founder and trust company with a 27-year operating history.
The Bliss group
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The information contained in this announcement may include “forward-looking statements”. All statements other than statements of historical fact included in this document, including, without limitation, those concerning the financial position, business strategy, plans and management objectives for the future operations of authID.ai and its business partners, future service launches with customers, the results of pilot projects and new initiatives and the customer pipeline are forward-looking statements. These forward-looking statements are based on a number of assumptions about authID.ai’s present and future business strategies, and the environment in which authID.ai expects to operate in the future, which assumptions may or may not be correct. fulfilled in practice. The implementation of all or part of the new services mentioned is subject to the approvals and regulatory or other activities of third parties. Actual results may differ materially from the results anticipated by these forward-looking statements due to various risk factors, including the risk that the implementation, adoption and delivery of the service by customers, consumers and others. may take longer than expected, or may not occur at all; changes in laws, regulations and practices; changes in national and international economic and political conditions, the still uncertain impact of the Covid-19 pandemic and others. Additional risks may arise in starting operations in new countries and regions, of which authID.ai is not fully aware at this time. See the Company’s Annual Report Form 10-K for the fiscal year ended December 31, 2020 filed at www.sec.gov for other risk factors that investors should consider. These forward-looking statements speak only as of the date of this announcement and cannot be taken as a guide to future performance. authID.ai expressly disclaims any obligation or commitment to release any update or revision to any forward-looking statement contained in this announcement to reflect any change in its expectations in this regard or any change in the events, conditions or circumstances upon which any statement is made. based.